Short Interest in Deliveroo plc (OTCMKTS:DROOF) Expands By 92.8%

Deliveroo plc (OTCMKTS:DROOF) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 3,545,400 shares, an increase of 92.8% from the March 15th total of 1,838,700 shares. Based on an average trading volume of 3,800 shares, the days-to-cover ratio is presently 933.0 days.

Deliveroo Price Performance

Shares of DROOF stock remained flat at $1.50 during trading hours on Thursday. The company’s 50-day moving average price is $1.52 and its 200 day moving average price is $1.69. Deliveroo has a 52-week low of $1.31 and a 52-week high of $2.24.

Deliveroo announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 18th that allows the company to buyback 0 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About Deliveroo

Deliveroo plc, a holding company, operates an online food delivery platform in the United Kingdom, Ireland, France, Italy, Belgium, Hong Kong, Singapore, the United Arab Emirates, Kuwait, and Qatar. The company connects local consumers, shops, riders and restaurants, and grocery partners. Deliveroo plc was founded in 2013 and is based in London, the United Kingdom.